Sumitomo Mitsui Trust Group Inc. Buys 1,655 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sumitomo Mitsui Trust Group Inc. increased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 563,096 shares of the basic materials company's stock after acquiring an additional 1,655 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Air Products and Chemicals worth $166,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Patron Partners LLC lifted its stake in shares of Air Products and Chemicals by 12.9% in the 1st quarter. Patron Partners LLC now owns 2,680 shares of the basic materials company's stock valued at $790,000 after acquiring an additional 307 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Air Products and Chemicals by 27.8% in the 1st quarter. Sunbelt Securities Inc. now owns 216 shares of the basic materials company's stock valued at $64,000 after acquiring an additional 47 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter valued at about $615,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Air Products and Chemicals by 17.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,965 shares of the basic materials company's stock valued at $7,589,000 after acquiring an additional 3,868 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Air Products and Chemicals by 5.7% in the 1st quarter. Diversified Trust Co now owns 1,512 shares of the basic materials company's stock valued at $446,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.1%

APD stock opened at $282.68 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The business's 50 day moving average price is $274.48 and its two-hundred day moving average price is $290.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The company has a market capitalization of $62.91 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 5.42 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter last year, the company posted $2.85 EPS. The firm's revenue was down .5% on a year-over-year basis. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.53%. Air Products and Chemicals's payout ratio is currently 104.07%.

Analyst Ratings Changes

APD has been the subject of a number of recent research reports. Barclays lowered their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. UBS Group reduced their price target on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, Citigroup reduced their price target on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and an average target price of $332.41.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.

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